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Become transparent, declare undisclosed assets by September 30: PM Modi
Sunday June 26, 2016 6:39 PM, Agencies

New Delhi: Prime Minister Narendra Modi Sunday asked people to declare their undisclosed income by September 30, making it clear that this is the last chance to avoid problems that will follow after the window of opportunity closes.

"In a country of 1.25 billion there are only 1.5 lakh people whose taxable income is more than 50 lakh," said Prime Minister Modi while addressing the nation in the 21st edition of his 'Mann ki Baat' programme.

"The government has come out with a scheme to declare undisclosed income before September 30. By paying a penalty, we can free ourselves of several burdens," he added.

He said no questions would be asked about the source of the undisclosed income or assets if the declaration is made voluntarily by September 30.

"For those having undisclosed income, the government has provided a special chance to declare it by September 30," Modi said in his monthly radio programme 'Mann Ki Baat'.

He said by paying a penalty, those having undisclosed money can free themselves from various kinds of burden.

"I have promised that there will be no inquiry into the source of the undisclosed income and assets if the declaration is made voluntarily. That is why I am saying it is a good chance for becoming a part of transparent system," he said.

"Consider this as one last chance," he said.

The Income Tax Department announced the Income Declaration Scheme 2016, which gives the opportunity to citizens to declare their undisclosed assets before the said date.

The Income Declaration Scheme 2016, which came into effect from June 1, 2016, is an opportunity for those who didn't disclose income or pay taxes thereon in the past.

The BJP-led NDA regime at the Centre has declared September 30 as the last date for making a declaration and November 30 as the date by which the tax, surcharge and penalty may be paid.

During his address, the Prime Minister also lauded retired government employee Chandrakant Kulkarni for donating one-third of his pension to the Swachh Bharat Kosh.


 




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